NNPC Set To Crash Cooking Gas Prices
Cooking gas is gradually replacing firewood and kerosene stoves in Nigeria and the Nigeria National Petroleum Corporation, NNPC wants the trend to continue.
So, on Thursday the corporation announced its readiness to take measures that would reduce the price of cooking gas in the country.
Here is the corporation’s plan.
It wants to implement an effective commercial framework that would end the export of propane and butane, which are major components in the production of Liquefied Petroleum Gas, also known as cooking gas.
According to NNPC’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, the move to stop the export of propane and butane would enable the oil firm to boost the supply of LPG to the domestic market.
This, he said, would lead to a natural downward slide in the price of the product across the country.
The NNPC spokesperson quoted the Group General Manager, COMD of the corporation, Mele Kyari, in a statement issued in Abuja as saying: “Currently some of our butane and propane entitlements are exported largely due to a lack of vessels to make sure that these things come into the domestic markets and the absence of a commercial framework.
“What we are going to do is to make sure we put the right commercial framework in place so that those exports are converted into domestic consumption.”
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